June 29 (Bloomberg) -- Alterra Power Corp. said it received
an unsolicited offer from a closely-held entity in Iceland for
the purchase of its geothermal assets in the nation.

The Vancouver-based company said it signed a non-binding
agreement to pursue the transaction, which would require
approvals from the Icelandic government. The decision regards
Alterra’s 66.6 percent stake in HS Orka hf, which is 33.4
percent owned by a syndicate of Icelandic pension funds,
according to a statement from Alterra released today.